Marlborough Fund Managers is planning to combine two funds following the exit of Greg Bennett, who is joining Argonaut Capital Partners, FundWeb reports. The Marlborough U.K. Large Cap Growth fund will be combined with the U.K. Leading Companies fund, while the U.K. Equity Income fund will merge with the Multi Cap Income fund.
Manager Giles Hargreave will run the merged funds with deputy chairman Nicholas Cooling. Geoff Hitchin, investment director, is stepping down from two of the merged funds. The changes will be put to investors and the Financial Services Authority for approval and trim down the amount of funds it manages to six, with the mergers likely in January.
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